Kevin Sobilo
Pay The Seller's Closing Costs
A thought occurred to me. What if when buying as part of the negotiation you offer to pay the seller's closing costs especially real estate commissions for an equivalent reduction in price?It would not affect how much...
Spencer Krautkramer
How To Write Off Your Own Labor
Is there any way to write off or deduct your own labor or sweat equity put into an investment property? I prefer to do things myself to save on labor costs but realize I would write off or deduct much more when doing ...
Ashley Hamilton
SEEKING TAX ADVICE FOR LANDLORDS AND PROPERTY MANAGERS
HELLO,I'm a property manager and a landlord, I'm looking for advice and tax strategies to lower my tax burden. I feel like I need to start an s- corp but don't know where to start. I really would like to here from tax...
Alan Feng
Is property tax appeal fees deductible?
I use a 3rd party company to help protest my rental property appraisal values and they take 1/3 of the actual tax reduction as the fee. Does anyone know if this fee can be considered as expense to the rental property ...
Daniel B.
Renting new construction for a year then selling to save on taxes
Hi, I understand rental properties are not earned income so you don’t have to pay self employment tax on them. Has anyone fixed up flips or built new construction and instead of selling immediately, either rent...
Joe Cassandra
[CPA Question] Is there a limit on live-in flip tax savings?
My wife and I did a live-in flip for 2 years and sold for a $40k profit. We bought our next house less than a year later. We may rent this house out, but curious if we sold it again (it's 2 years later now), if we'd p...
Tou V.
Best strategy to get Title in my name and save on taxes?
A few years ago I had my brother purchase a investment property for me, because I couldn't get a loan at the time. Initially I was told yes, but when it got closer to closing, loan was cancelled. Basically I paid fo...
Jeffrey Zhang
How to save taxes and avoid being audit at the same time?
I have two companies, one for real estate investment which is a LLC and one for home construction which is S Corp, just call them A and B. B takes remodeling project for A, how to handle them wisely to save taxes? e.g...
Michael Outar
Using a Motor Home as a home office works for tax savings??
Hello all. I have a question. I moved into a smaller home and don't have a office for my real estate business. I had a thought the other day. I wondered if I purchased a motor home and used it as my business office if...
Sara Lung
Saving tax for occasional RE investor with sudden big profit. Failed 1031.
Hi,I finally sold a piece of vacant land this January. I have $110K in capital gain, and I tried to use 1031 to buy other lands. I still have $70K capital gain left after the 6 month 1031 replacement period expired. N...